Brokerage Fees

[frosh coach]

I'm planning to make an offer on a boat tomorrow. The owner was going to list the boat with a broker but is waiting o see if i make an offer.
How much do brokers ususally charge? I want to use this number when I negioate the price.
Thanks

 

[jb914]

I think that depends on the cost of the boat and the services the broker is providing. When i bought my boat in 2006 the broker said his fees were around 10% for boats under 100k.

 

[mandm1200]

The seller pays the broker fees. Many times the price of the boat includes the broker fee; that's how they get the listing. Ex: boat is worth $50k but the amount owed is $80k. Broker knows the owner needs $88k ($80K x 10% commision) to get out of it. So they price it at $100k for some wiggle room. That is why many boats get over priced.
Make an offer on the value of the boat's worth; not on what they owe, broker's commision, plus wiggle room.

 

[MikeeH]

Broker fees are normally 10% of the selling cost but lower fees can be negotiated.

 

[gcolton]

10% is normal around here also.

G

 

[David M]

Depends on the broker. 7-10 percent is the norm.